Market Capitalization Changes by Sector (US)

Data Used: Multiple data services

Date of Analysis: Data used is as of January 2026

Download as an excel file instead: https://www.stern.nyu.edu/~adamodar/pc/datasets/MktCap.xls

For global datasets: https://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html

can be obtained by clicking here

on which companies are included in each industry


    % Quarterly Changes in most recent year Market Capitalization (US $ millions)   % Annual Changes
Industry Name Number of firms 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 2021 2022 2023 2024 2025
Advertising 52 -39.35% 17.54% -9.58% 3.67%  $              72,236  $             87,411  $             52,513  $            68,904  $              90,665  $            60,588 21.01% -39.92% 31.21% 31.58% -33.17%
Aerospace/Defense 79 4.93% 21.99% 10.01% 2.10% $695,288.02 $765,489.32 $831,571.08 $932,099.12 $1,104,815.77 $1,588,348.46 10.10% 8.63% 12.09% 18.53% 43.77%
Air Transport 23 -24.80% 11.44% 12.85% 15.64% $94,337.90 $103,956.76 $77,923.35 $85,966.38 $129,483.12 $141,607.00 10.20% -25.04% 10.32% 50.62% 9.36%
Apparel 35 -14.99% 8.00% 17.36% 6.06% $88,752.27 $100,444.84 $57,252.28 $59,630.10 $70,425.47 $80,477.87 13.17% -43.00% 4.15% 18.10% 14.27%
Auto & Truck 33 -33.46% 20.50% 41.51% 2.55% $777,671.36 $1,419,165.49 $526,890.14 $936,476.03 $1,428,657.98 $1,662,402.35 82.49% -62.87% 77.74% 52.56% 16.36%
Auto Parts 35 -11.45% 12.71% 26.04% -0.71% $100,726.93 $80,976.69 $51,105.26 $55,239.27 $45,228.72 $56,496.98 -19.61% -36.89% 8.09% -18.12% 24.91%
Bank (Money Center) 15 -1.97% 14.11% 7.45% 4.89% $1,071,857.70 $1,383,914.70 $1,092,965.80 $1,229,645.50 $1,615,266.40 $2,036,628.50 29.11% -21.02% 12.51% 31.36% 26.09%
Banks (Regional) 568 -2.37% -10.60% 6.20% 4.04% $468,948.91 $635,747.02 $561,456.87 $511,680.29 $698,833.70 $673,932.57 35.57% -11.69% -8.87% 36.58% -3.56%
Beverage (Alcoholic) 14 -12.54% -16.72% -10.46% -0.89% $102,797.70 $99,961.54 $92,020.47 $91,322.18 $74,353.70 $48,057.00 -2.76% -7.94% -0.76% -18.58% -35.37%
Beverage (Soft) 27 7.55% -3.44% -1.62% 5.70% $542,186.64 $618,079.77 $650,834.85 $627,718.11 $601,257.57 $649,310.72 14.00% 5.30% -3.55% -4.22% 7.99%
Broadcasting 24 38.65% -16.54% 33.69% -4.61% $57,943.56 $62,708.33 $44,397.12 $36,911.61 $39,999.80 $59,031.29 8.22% -29.20% -16.86% 8.37% 47.58%
Brokerage & Investment Banking 32 -4.25% 26.87% 14.25% 1.70% $381,938.45 $578,598.09 $519,835.74 $527,704.96 $724,383.91 $1,022,392.26 51.49% -10.16% 1.51% 37.27% 41.14%
Building Materials 41 -10.70% 3.81% 0.11% -8.37% $152,373.69 $218,729.64 $147,817.04 $229,120.07 $246,385.12 $209,523.04 43.55% -32.42% 55.00% 7.54% -14.96%
Business & Consumer Services 155 0.05% 2.09% -3.86% -7.99% $461,446.04 $587,652.76 $497,004.98 $558,291.25 $656,903.60 $593,493.81 27.35% -15.43% 12.33% 17.66% -9.65%
Cable TV 9 0.58% -0.20% -12.04% -2.95% $465,546.80 $423,804.40 $245,450.30 $272,770.42 $220,458.70 $188,902.60 -8.97% -42.08% 11.13% -19.18% -14.31%
Chemical (Basic) 29 -12.43% -16.72% -6.43% -8.27% $98,315.12 $111,272.06 $96,604.83 $107,479.81 $85,751.82 $53,676.22 13.18% -13.18% 11.26% -20.22% -37.41%
Chemical (Diversified) 4 -15.36% -22.01% 10.14% -8.52% $9,862.10 $14,002.70 $10,951.46 $9,759.91 $6,199.30 $4,122.76 41.98% -21.79% -10.88% -36.48% -33.50%
Chemical (Specialty) 59 -0.91% 1.83% -1.20% -5.55% $458,055.67 $573,050.90 $464,283.40 $474,242.47 $469,061.20 $441,622.98 25.11% -18.98% 2.15% -1.09% -5.85%
Coal & Related Energy 16 -9.22% 13.05% 61.23% -1.66% $4,785.98 $7,613.27 $11,308.26 $13,342.55 $14,640.94 $23,824.25 59.07% 48.53% 17.99% 9.73% 62.72%
Computer Services 64 2.85% 13.29% -7.57% 3.61% $253,661.77 $327,597.15 $280,261.99 $327,539.21 $379,901.61 $423,943.78 29.15% -14.45% 16.87% 15.99% 11.59%
Computers/Peripherals 36 -12.23% -6.12% 23.62% 5.69% $2,422,325.64 $3,092,810.18 $2,184,070.72 $3,172,303.63 $4,025,284.67 $4,333,660.84 27.68% -29.38% 45.25% 26.89% 7.66%
Construction Supplies 40 -9.27% 10.71% 15.90% 11.82% $241,189.78 $281,155.80 $288,698.42 $363,939.91 $435,033.55 $566,257.06 16.57% 2.68% 26.06% 19.53% 30.16%
Diversified 20 14.13% -6.29% 1.68% -0.59% $804,475.39 $935,891.16 $916,587.34 $987,392.93 $1,204,371.41 $1,301,997.84 16.34% -2.06% 7.72% 21.97% 8.11%
Drugs (Biotechnology) 496 5.89% -4.29% 14.48% 14.14% $1,050,489.99 $1,131,972.53 $1,123,084.05 $1,156,273.55 $1,208,616.89 $1,600,483.96 7.76% -0.79% 2.96% 4.53% 32.42%
Drugs (Pharmaceutical) 228 4.22% -7.85% 6.29% 23.14% $1,324,354.61 $1,618,971.17 $1,709,133.16 $1,635,724.17 $1,739,133.33 $2,186,138.67 22.25% 5.57% -4.30% 6.32% 25.70%
Education 32 2.63% 15.66% 3.62% -22.95% $39,724.17 $36,424.51 $27,568.49 $40,697.35 $51,345.62 $48,661.21 -8.31% -24.31% 47.62% 26.16% -5.23%
Electrical Equipment 112 -14.18% 39.76% 14.46% 5.59% $218,263.16 $279,314.49 $215,989.77 $241,629.20 $379,448.24 $550,054.99 27.97% -22.67% 11.87% 57.04% 44.96%
Electronics (Consumer & Office) 8 -27.70% 6.44% 33.76% 9.57% $3,052.47 $4,300.04 $2,504.28 $2,461.10 $2,158.72 $2,434.87 40.87% -41.76% -1.72% -12.29% 12.79%
Electronics (General) 114 -9.21% 29.83% 19.00% 6.58% $252,865.69 $323,005.36 $241,289.05 $281,032.29 $347,025.13 $518,763.91 27.74% -25.30% 16.47% 23.48% 49.49%
Engineering/Construction 48 -18.26% 44.11% 19.79% 0.63% $61,213.08 $89,633.44 $94,526.62 $121,902.82 $185,956.69 $264,036.54 46.43% 5.46% 28.96% 52.55% 41.99%
Entertainment 92 -0.35% 32.80% -0.03% -9.89% $758,985.45 $824,415.39 $453,865.07 $599,818.78 $839,942.60 $1,001,343.23 8.62% -44.95% 32.16% 40.03% 19.22%
Environmental & Waste Services 53 9.74% 2.82% -2.88% -3.10% $120,240.42 $158,732.25 $148,595.89 $196,133.83 $228,837.78 $242,996.60 32.01% -6.39% 31.99% 16.67% 6.19%
Farming/Agriculture 35 4.84% 8.49% -2.67% -0.08% $163,067.46 $200,469.32 $234,283.15 $202,069.42 $184,691.01 $204,285.51 22.94% 16.87% -13.75% -8.60% 10.61%
Financial Svcs. (Non-bank & Insurance) 176 0.48% 7.72% 0.49% 0.34% $2,178,535.35 $2,393,545.77 $1,817,142.91 $2,249,567.75 $2,797,804.44 $3,053,411.60 9.87% -24.08% 23.80% 24.37% 9.14%
Food Processing 78 3.28% -7.70% -2.42% -7.50% $372,714.90 $407,094.31 $422,892.52 $379,308.14 $351,516.84 $302,436.06 9.22% 3.88% -10.31% -7.33% -13.96%
Food Wholesalers 13 -2.69% 5.48% 7.48% -8.10% $54,280.30 $60,833.87 $60,677.22 $63,422.06 $71,917.64 $72,915.66 12.07% -0.26% 4.52% 13.40% 1.39%
Furn/Home Furnishings 27 -4.32% 8.86% 8.87% 0.98% $47,528.06 $59,814.57 $34,240.89 $42,454.89 $45,845.30 $52,491.78 25.85% -42.75% 23.99% 7.99% 14.50%
Green & Renewable Energy 15 43.08% 15.32% 3.79% 13.61% $32,789.84 $23,769.00 $20,285.51 $20,368.32 $12,442.04 $24,208.07 -27.51% -14.66% 0.41% -38.91% 94.57%
Healthcare Products 204 2.87% 3.56% -5.42% 6.04% $1,006,367.01 $1,219,482.94 $971,735.35 $1,051,825.95 $1,166,656.28 $1,246,583.29 21.18% -20.32% 8.24% 10.92% 6.85%
Healthcare Support Services 104 9.96% -15.96% 1.07% 1.62% $876,289.91 $1,181,530.90 $1,198,408.88 $1,153,546.90 $1,041,252.38 $988,249.96 34.83% 1.43% -3.74% -9.73% -5.09%
Heathcare Information and Technology 115 -10.10% -4.97% 8.96% 9.54% $800,955.86 $1,084,662.94 $768,445.33 $739,704.92 $708,277.54 $722,216.04 35.42% -29.15% -3.74% -4.25% 1.97%
Homebuilding 30 -10.90% -1.84% 17.71% -12.27% $114,573.89 $166,907.08 $119,359.50 $211,012.33 $199,967.12 $180,618.88 45.68% -28.49% 76.79% -5.23% -9.68%
Hospitals/Healthcare Facilities 31 6.91% 9.51% 7.83% 4.54% $97,055.25 $131,663.62 $113,093.83 $125,900.29 $137,773.53 $181,827.99 35.66% -14.10% 11.32% 9.43% 31.98%
Hotel/Gaming 63 -12.71% 20.51% -1.44% 3.13% $529,883.29 $585,335.54 $415,847.79 $600,526.76 $717,378.54 $767,051.38 10.46% -28.96% 44.41% 19.46% 6.92%
Household Products 110 0.16% -6.00% -5.65% -6.15% $654,834.64 $754,562.06 $645,679.93 $648,524.19 $684,166.38 $570,380.12 15.23% -14.43% 0.44% 5.50% -16.63%
Information Services 15 5.43% 0.45% 1.96% -5.63% $57,087.83 $77,462.00 $54,636.87 $64,775.99 $67,770.59 $69,058.02 35.69% -29.47% 18.56% 4.62% 1.90%
Insurance (General) 21 18.53% -7.42% -7.73% -11.29% $107,300.10 $159,462.60 $148,378.65 $174,894.41 $223,949.25 $201,157.07 48.61% -6.95% 17.87% 28.05% -10.18%
Insurance (Life) 20 1.90% -3.41% 2.22% -0.77% $155,134.94 $196,352.21 $201,371.59 $203,591.45 $230,095.81 $229,732.56 26.57% 2.56% 1.10% 13.02% -0.16%
Insurance (Prop/Cas.) 57 10.48% -0.21% -3.25% -0.37% $343,970.00 $391,952.50 $401,979.00 $436,491.73 $559,885.02 $594,922.65 13.95% 2.56% 8.59% 28.27% 6.26%
Investments & Asset Management 283 -3.88% 12.91% 8.07% -1.63% $400,836.84 $592,602.45 $457,819.74 $582,930.24 $800,422.68 $923,408.82 47.84% -22.74% 27.33% 37.31% 15.37%
Machinery 105 -2.87% 4.53% 5.25% 4.00% $395,757.49 $480,773.36 $401,237.20 $505,987.05 $544,501.90 $605,113.25 21.48% -16.54% 26.11% 7.61% 11.13%
Metals & Mining 73 0.66% 12.30% 14.56% 20.56% $107,670.51 $139,438.59 $123,224.96 $147,279.30 $148,916.28 $232,490.80 29.50% -11.63% 19.52% 1.11% 56.12%
Office Equipment & Services 14 -9.62% 10.53% 2.10% -7.11% $12,151.90 $14,335.76 $10,928.34 $13,518.59 $14,694.01 $13,921.96 17.97% -23.77% 23.70% 8.69% -5.25%
Oil/Gas (Integrated) 4 9.94% -11.79% 11.43% 1.49% $356,860.30 $511,115.50 $858,934.00 $733,143.90 $779,731.80 $855,194.80 43.23% 68.05% -14.64% 6.35% 9.68%
Oil/Gas (Production and Exploration) 142 7.70% -5.25% -0.63% -4.17% $155,845.85 $341,684.34 $483,373.57 $465,778.48 $499,964.28 $485,812.65 119.25% 41.47% -3.64% 7.34% -2.83%
Oil/Gas Distribution 23 6.04% -1.55% -3.65% -4.16% $108,534.95 $148,092.39 $190,628.84 $211,713.24 $307,425.40 $296,353.38 36.45% 28.72% 11.06% 45.21% -3.60%
Oilfield Svcs/Equip. 97 0.99% -4.59% 17.74% -0.95% $183,541.83 $232,559.55 $368,428.98 $387,992.18 $332,625.17 $373,803.37 26.71% 58.42% 5.31% -14.27% 12.38%
Packaging & Container 19 2.13% -1.26% -1.76% -3.74% $126,940.43 $137,752.83 $105,924.17 $111,746.87 $120,618.31 $115,023.75 8.52% -23.11% 5.50% 7.94% -4.64%
Paper/Forest Products 6 -12.63% -12.58% -1.96% -4.38% $4,729.15 $8,710.81 $7,021.89 $7,747.59 $11,650.06 $8,341.77 84.19% -19.39% 10.33% 50.37% -28.40%
Power 46 3.89% 6.16% 8.25% -1.60% $674,580.77 $792,740.77 $801,511.89 $736,492.55 $913,566.45 $1,073,277.75 17.52% 1.11% -8.11% 24.04% 17.48%
Precious Metals 56 31.10% 17.90% 43.30% 21.53% $82,413.88 $80,053.38 $70,001.54 $80,664.27 $78,785.59 $212,091.11 -2.86% -12.56% 15.23% -2.33% 169.20%
Publishing & Newspapers 19 -5.03% 8.57% 3.25% -2.81% $27,832.89 $32,440.51 $24,668.39 $30,383.28 $34,146.19 $35,331.80 16.55% -23.96% 23.17% 12.38% 3.47%
R.E.I.T. 190 3.60% -1.45% 1.58% -1.96% $1,006,363.42 $1,420,528.28 $1,070,037.06 $1,183,531.97 $1,221,567.01 $1,242,113.55 41.15% -24.67% 10.61% 3.21% 1.68%
Real Estate (Development) 14 -8.54% 4.59% 24.74% -3.98% $5,677.13 $7,242.82 $4,812.56 $6,561.71 $5,742.69 $6,579.50 27.58% -33.55% 36.35% -12.48% 14.57%
Real Estate (General/Diversified) 12 -0.62% 12.23% -4.86% 15.84% $3,345.91 $3,566.56 $2,869.51 $2,570.20 $3,851.47 $4,734.19 6.59% -19.54% -10.43% 49.85% 22.92%
Real Estate (Operations & Services) 54 0.72% 2.42% 17.07% -4.22% $128,870.90 $139,533.85 $88,593.98 $106,506.02 $119,334.84 $138,042.19 8.27% -36.51% 20.22% 12.05% 15.68%
Recreation 49 -6.17% 5.37% 2.03% 0.91% $113,121.92 $103,485.66 $69,706.59 $70,696.46 $68,393.64 $69,621.05 -8.52% -32.64% 1.42% -3.26% 1.79%
Reinsurance 1 -7.61% 0.84% -3.13% 5.29% $7,839.90 $7,436.00 $9,496.70 $10,662.20 $14,070.60 $13,370.10 -5.15% 27.71% 12.27% 31.97% -4.98%
Restaurant/Dining 64 2.78% 3.06% -3.96% -3.65% $496,287.02 $605,580.30 $503,205.76 $585,180.74 $639,666.60 $627,015.87 22.02% -16.91% 16.29% 9.31% -1.98%
Retail (Automotive) 34 8.28% 6.01% 10.72% -10.38% $142,228.78 $199,604.69 $163,837.22 $177,779.06 $221,629.05 $252,456.52 40.34% -17.92% 8.51% 24.67% 13.91%
Retail (Building Supply) 14 -7.10% -0.73% 12.17% -11.69% $458,558.40 $664,994.80 $470,591.10 $514,434.00 $574,631.70 $524,963.87 45.02% -29.23% 9.32% 11.70% -8.64%
Retail (Distributors) 62 -5.23% 11.53% 7.79% -4.74% $154,583.68 $260,041.84 $220,075.61 $296,509.13 $328,389.96 $356,397.95 68.22% -15.37% 34.73% 10.75% 8.53%
Retail (General) 23 -8.51% 13.08% 0.97% 4.19% $2,485,705.20 $2,717,916.90 $1,689,613.80 $2,510,466.10 $3,646,521.10 $3,968,753.60 9.34% -37.83% 48.58% 45.25% 8.84%
Retail (Grocery and Food) 15 5.46% 6.85% -9.18% -7.82% $47,579.36 $65,178.90 $62,316.50 $74,612.94 $99,665.09 $94,026.30 36.99% -4.39% 19.73% 33.58% -5.66%
Retail (REITs) 26 0.60% -2.23% 7.81% -2.87% $97,920.80 $183,001.30 $157,678.50 $173,464.70 $201,605.92 $207,644.53 86.89% -13.84% 10.01% 16.22% 3.00%
Retail (Special Lines) 94 -10.30% 4.26% 13.05% 4.54% $320,320.70 $377,207.41 $307,436.49 $331,347.29 $392,827.99 $434,128.32 17.76% -18.50% 7.78% 18.55% 10.51%
Rubber& Tires 3 3.03% 12.25% -27.54% 16.21% $2,478.20 $5,995.90 $2,920.73 $4,113.91 $2,595.82 $2,528.12 141.95% -51.29% 40.85% -36.90% -2.61%
Semiconductor 66 -19.26% 43.22% 17.53% 4.23% $1,486,874.91 $2,343,961.68 $1,467,429.53 $3,030,489.04 $5,547,714.78 $7,857,941.53 57.64% -37.40% 106.52% 83.06% 41.64%
Semiconductor Equip 31 -7.03% 24.18% 22.21% 24.69% $269,972.96 $414,057.80 $278,073.90 $409,851.05 $392,433.62 $690,400.66 53.37% -32.84% 47.39% -4.25% 75.93%
Shipbuilding & Marine 8 -5.87% 0.01% -18.04% 24.35% $6,011.29 $8,148.98 $7,213.78 $9,608.28 $11,583.68 $11,113.87 35.56% -11.48% 33.19% 20.56% -4.06%
Shoe 11 -22.44% 7.70% -1.40% -6.96% $240,175.74 $291,703.79 $204,382.28 $192,482.51 $154,954.13 $118,732.78 21.45% -29.93% -5.82% -19.50% -23.38%
Software (Entertainment) 77 -11.92% 19.09% 19.40% 13.23% $2,162,367.25 $3,122,426.04 $1,547,494.04 $2,771,151.01 $3,922,105.78 $5,562,520.76 44.40% -50.44% 79.07% 41.53% 41.82%
Software (Internet) 29 7.60% 59.35% -0.87% -8.51% $288,541.11 $356,250.00 $158,849.49 $217,557.67 $204,780.64 $318,435.51 23.47% -55.41% 36.96% -5.87% 55.50%
Software (System & Application) 309 -10.86% 29.91% 7.08% -9.27% $3,546,708.19 $4,968,388.15 $3,238,825.57 $5,135,699.51 $6,223,272.02 $7,001,467.19 40.08% -34.81% 58.57% 21.18% 12.50%
Steel 19 -0.92% 4.51% 7.07% 18.60% $43,880.53 $74,228.03 $84,673.68 $108,209.32 $81,496.02 $107,159.19 69.16% 14.07% 27.80% -24.69% 31.49%
Telecom (Wireless) 12 18.56% -10.98% -0.65% -14.97% $170,884.74 $151,925.10 $178,053.08 $191,984.13 $266,381.10 $237,489.04 -11.09% 17.20% 7.82% 38.75% -10.85%
Telecom. Equipment 57 -8.29% 15.48% 17.13% 3.61% $303,922.09 $441,192.66 $336,707.42 $379,436.88 $524,319.00 $673,903.44 45.17% -23.68% 12.69% 38.18% 28.53%
Telecom. Services 39 16.48% 0.80% 0.37% -6.54% $473,790.13 $438,961.82 $325,135.03 $304,567.69 $365,623.95 $402,663.03 -7.35% -25.93% -6.33% 20.05% 10.13%
Tobacco 10 26.12% 9.71% -4.90% -4.32% $204,948.41 $236,183.53 $240,767.08 $220,221.73 $278,148.33 $350,172.38 15.24% 1.94% -8.53% 26.30% 25.89%
Transportation 19 0.23% 10.44% 0.85% -1.19% $358,023.60 $428,655.60 $297,462.41 $380,129.88 $348,638.56 $384,535.83 19.73% -30.61% 27.79% -8.28% 10.30%
Transportation (Railroads) 4 -1.28% 2.40% 6.65% -1.55% $267,821.10 $314,919.20 $258,493.00 $271,989.80 $254,405.20 $270,029.20 17.59% -17.92% 5.22% -6.47% 6.14%
Trucking 26 -13.08% -1.99% -6.10% 12.04% $90,254.09 $140,151.20 $104,134.92 $140,020.60 $133,660.17 $119,791.99 55.29% -25.70% 34.46% -4.54% -10.38%
Utility (General) 14 6.24% -0.93% 7.79% -3.26% $266,369.30 $302,354.70 $297,014.70 $270,553.90 $319,764.30 $350,969.40 13.51% -1.77% -8.91% 18.19% 9.76%
Utility (Water) 14 13.50% -5.32% 1.67% -4.42% $49,584.30 $61,519.01 $52,801.43 $46,943.15 $44,264.68 $46,224.38 24.07% -14.17% -11.09% -5.71% 4.43%
Total Market 5994 -5.14% 11.04% 8.63% 2.04% $39,586,988.60 $50,440,346.47 $39,151,227.34 $48,467,848.80 $59,752,305.28 $69,772,849.80 27.42% -22.38% 23.80% 23.28% 16.77%
Total Market (without financials) 4822 -5.90% 11.49% 9.30% 2.17% $34,478,466.30 $44,108,171.13 $33,950,277.03 $42,551,342.47 $52,101,664.07 $61,037,263.77 27.93% -23.03% 25.33% 22.44% 17.15%

Last Updated in January 2026
By Aswath Damodaran